Health Industry blockchain applications

The Health Industry is on the verge of being revolutionized by the cryptocurrency wave. The 21st century brought with it incredible technological advancements, and with that came massive changes in lifestyle. These factors combined ensured the rise of new medical conditions and challenges.

As was expected, this turn of events created massive strain on health industries across the globe. It has been projected by health experts that the number of people over 65 afflicted with at least four medical conditions will have risen by a full 100% in the next 20 years.

However, the incursion of cryptocurrency into the health sector has proved to be a fortuitous turn of events.

So
far, blockchain technology has been incredibly helpful to the health industry,
and it still holds magnificent promise for the future of healthcare.

Though it would not solve all the problems, and that is quite understandable, it could help the industry handle its growing workload and data concerns for the foreseeable future.

Blockchain technology could give patients greater assurance that their personal info is being protected, by simply increasing the security and transparency of medical data. This in turn could increase trust in medical institutions and make people feel more at ease about putting their lives in the hands of health professionals.

Despite all the apparent advantages the application of blockchain technology would have on the health industry, it is not without its challenges. Blockchain developers would still need to overcome certain pressing technical challenges that still hinder the full application of the technology. Also, from the legal angle, there still exists the debacle of proper legislation for the new technology.

These issues are restricting the technology from reaching its full potential at the present time. However, once they are resolved, it is quite certain that it would create radical changes in the health industry.

Related Articles

Cambodia wants to solve its dependence on the US dollar and create a modern monetary infrastructure. For this, it is intended to offer people the use of Blockchain for public payments. The Central Bank of […]

Chris Horlacher, a former securities industry CFO, is working with a team of blockchain software developers in a bid to revolutionize the over-the-counter securities market. Their product, called “Equibit” is promising to deliver on the […]

Blockstream announced today a strategic partnership with PwC to bring blockchain technology and services to companies around the world. The rapid pace of innovation in cryptocurrencies, distributed ledgers, and smart contract technology is driving organizations to transform […]

AICoin ICO

Popular Posts

So, anyone who has read my first articles will know that my first love is bitcoin trading (sorry boys). However, a company I have recently come across, First Global Credit, offers the ability to trade [...]

News in Pictures

Editors Picks

There are many governments that have been resistant to Bitcoin and deemed it illegal but are currently changing their attitude with time. The main reason for this is because Bitcoin has been long been associated [...]

Bitcoin casino FortuneJack today announced the launch of their new Bitcoin Poker platform. The platform is available to try free of charge using play money with no downloads required. Players can also choose to start playing for [...]

30th June 2015 – Summary As discussed here I am trying out a service provided by First Global Credit to trade stocks using my bitcoins as margin. I will be running a real-time experiment and will publish [...]

Xapo today announced the formation of their advisory board with three significant finance industry figures joining the team. Dee Hock is the founder of Visa and was instrumental in creating the payments systems we have [...]